How much interest will you have earned altogether at the end of a two-year period if you
Question:
How much interest will you have earned altogether at the end of a two-year period if you deposit $75 at the start of every month for 24 months? Assume your money will earn 6% compounded monthly.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 45% (11 reviews)
Given Alison will save 137166 1350 2166 in current ...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
Question Posted:
Students also viewed these Mathematics questions
-
Your bank offers 3 percent annual interest on savings deposits. If you deposit $560 today, how much interest will you have earned at the end of one year?
-
The following is an actual promotional pamphlet prepared by Trust Company Bank in Atlanta, Georgia: "Lower your monthly car payments as much as 48%." Now you can buy the car you want and keep the...
-
If you deposit $100 at the end of every month into an account that pays 3% interest per year compounded monthly, the amount of interest accumulated after n months is given by the sequence
-
Suppose that the weight of a typical American male follows a normal distribution with = 180 lb and = 30 lb. Also, suppose 91.92% of all American males weigh more than I weigh. a. What fraction of...
-
An air standard Diesel cycle has a compression ratio of 20 and cutoff ratio of 3. At the beginning of the compression process, air is at 90 kPa and 20oC. Using the PG model for air, determine (a) The...
-
Determine the equation of the graph. 4. 2- -2
-
Determine the maximum axial force P that can be applied to the bar. The allowable stress is allow = 21 ksi. P 1.875 in. 0.125 in. 1.25 in. 0.75 in. r = 0.25 in. P
-
Winners Circle, Inc. manufactures medals for winners of athletic events and other contests. Its manufacturing plant has the capacity to produce 10,000 medals each month. Current monthly production is...
-
What do you think the future of strategic human resource management and the challenges it faces on issues such as working virtually, satisfying the needs of a diverse workforce, the impact of social...
-
There is a lottery with n coupons and n people take part in it. Each person picks exactly one coupon. Coupons are numbered consecutively from 1 to n, n being the maximum ticket number. The winner of...
-
Sylvia and Maclean are exactly the same age. From age 30 to age 60, Sylvia invested $3000 at the end of every six months. Maclean invested $6000 at the end of every six months from age 45 to age 60....
-
The following table shows the rates of total return in successive years from 2011 to 2015 for the NEI Ethical Balanced Fund Series A and for the benchmark Toronto Stock Exchange S&T/TSX Composite...
-
Determine the objectives of the test. You are auditing both quantities and pricing of the final inventory accumulation. a. Explain the assertions that you are testing. b. Explain the evidence that...
-
After that Nike Inc. dismissed a handful of male executives for behavioral problems in recent months, some media reports linking the exits to the #MeToo movement and its revelations of harassment and...
-
Ayayai Harvest Company sells a product that includes a one-year warranty on parts and labor. During the year, 8,000 units are sold. Ayayai Harvest expects that 3% of the units will be defective and...
-
Neuropsychology is a unique subfield that intersects psychology and neuroscience. Explain the basic principles and applications of neuropsychology. How does this specialty contribute to our...
-
Keri, in forming a new corporation, transfers land to the corporation in exchange for 100 percent of the stock of the corporation. Keri's basis in the land is $295,000, and the corporation assumes a...
-
Identify the distinguishing characteristics of neuropsychology as a world view! Ps: Is mental psychology the same as neuropsychology!
-
Here are comparative balance sheets for Velo Company. Additional information: 1. Net income for 2019 was $93,000. 2. Cash dividends of $35,000 were declared and paid. 3. Bonds payable amounting to...
-
The words without recourse on an indorsement means the indorser is: a. not liable for any problems associated with the instrument. b. not liable if the instrument is dishonored. c. liable personally...
-
If the control limits of an x chart are set at 2.5 standard errors from the centerline, what is the probability that on any sample the control chart will indicate that the process is out of control...
-
Your education as a statistics practitioner can be considered a production process overseen by the course instructor. The variable we measure is the grade achieved by each student. a. Discuss chance...
-
What is meant by special variation?
-
In the Heckscher-Ohlin model, as trade occurs in a capital-abundant country, increased imports will force domestic import- competing firms to decrease prices and production. Labor and capital will...
-
Why has Gatorade been so successful in the sports drink market?
-
Mohali Foods has estimated that fixed costs per month are Rs . 1 1 4 , 8 4 0 and variable costs per unit of sales is 4 2 % . For the month the business anticipates sales of Rs . 3 0 0 , 0 0 0 . What...
Study smarter with the SolutionInn App